I own a freehold residence in Gloucestershire but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Gloucestershire and has limited impact for conveyancing in Gloucestershire but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
What is the optimum way to investigate if the solicitor conducting my conveyancing in Gloucestershire is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus paying £192.00 in another set of legal bill.
Please do make use of the search tool on this web page. Pick the mortgage company and type ‘Gloucestershire’ or your location and you will see numerous conveyancers based in Gloucestershire or nearest you.
Will my conveyancer be making enquiries regarding flooding as part of the conveyancing in Gloucestershire.
Flooding is a growing risk for solicitors specialising in conveyancing in Gloucestershire. Some people will acquire a property in Gloucestershire, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a various checks that can be carried out by the buyer or by their solicitors which will give them a better understanding of the risks in Gloucestershire. The conventional set of information sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to determine if the property has suffered from flooding. In the event that the premises has been flooded in past and is not disclosed by the seller, then a buyer could bring a compensation claim resulting from an inaccurate reply. A buyer’s lawyers may also conduct an environmental report. This should reveal if there is any known flood risk. If so, more detailed inquiries will need to be initiated.
I am selling my house. My previous solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Gloucestershire if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Gloucestershire. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Gloucestershire. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Gloucestershire are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Gloucestershire in which case you should be shopping around for a Gloucestershire conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.